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New Jersey Statutes, Title: 55, TENEMENT HOUSES AND PUBLIC HOUSING

    Chapter 17: Continuation of lease or financial arrangement on default or foreclosure of mortgage loan

      Section: 55:17-7: Notice of default to holder

           In the event of any default in connection with the terms and provisions of any lease or financial arrangement affecting a project, the governmental body or agency shall not take any steps it may otherwise be entitled to take, until it has first notified the holder of any mortgage loan thereon and provided a reasonable opportunity, in light of the nature of the default and the available means to correct it to cure the same; but in any case shall allow not less than 30 days for such purpose.

L.1967, c. 304, s. 7, eff. Feb. 15, 1968.



This section added to the Rutgers Database: 2012-09-26 13:37:57.






Older versions of 55:17-7 (if available):



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